CAC Considers Reduction in Cost of Company Registration

By Aduragbemi Omiyale A workshop designed to educate investors, especially those in the retail end of the curve, on how they can improve corporate governance has been organised by the Nigerian Exchange Regulation (NGX RegCo) Limited. The two-day event, which took place on Thursday, November 23, and Friday, November 24, 2023, was themed Rights and Responsibilities of Shareholders in Driving Corporate Governance. According to the NGX RegCo, the seminar was designed to promote a transparent and fair market, with participants agreeing that all hands must be on deck to sanitize the market and bring the boards and management of listed

By Adedapo Adesanya  Oil prices rose by more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in crude stockpiles in the United States. Brent crude futures were up by $1.01 or 1.2 per cent to $82.69 per barrel, and the US West Texas Intermediate (WTI) crude futures gained $1.16 or 1.5 per cent to close at $77.57 a barrel. Prices were lifted by a media report that the Organisation of the Petroleum Exporting Countries and allies such as Russia, known collectively as OPEC+, was considering

By Adedapo Adesanya Equinor and Chappal Energies have entered into an agreement for the sale of Equinor Nigeria Energy Company (ENEC), which holds a 53.85 per cent ownership in oil and gas lease OML 128, including the unitized 20.21 per cent stake in the Agbami oil field, operated by Chevron. Speaking on the deal, Equinor’s senior vice president for Africa Operations, Ms Nina Koch, said Nigeria has been an important part of Equinor’s international portfolio over the past 30 years, noting that, “This transaction realizes value and is in line with Equinor’s strategy to optimize its international oil and gas

By Modupe Gbadeyanka Authorities of Tincan Island Port have intercepted 20 containers of vegetable oil wrongly declared as Disodium Phosphate. This comes as the Customs Area Controller of the port, Bashir Y. U has promised to block all flashpoint for revenue leakages. Mr Bashir, while on a routine visit to the Terminal, disclosed that a certain clearing agent named Patwed Investments Company presented three Single Goods Declarations (SGDs) with C-No. 102101, purporting to be having seven  containers of 7588pk of Disodium Phosphate, while another seven  containers and six respectively had different pkg of the same consignment – DISODIUM PHOSPHATE. According

By Lerisha Naidu, Angelo Tzarevski, Sphesihle Nxumalo and Zareenah Rasool Baker McKenzie’s latest Africa Competition Report 2022 provides a detailed analysis and overview of recent developments in competition law enforcement and competition policy in 32 African jurisdictions and regional bodies. The report outlines how, over the past two years, African competition regulators have actively engaged in efforts to address pandemic-related challenges, but there has also been a general upward trend in competition policy enforcement across the continent. This trend is highlighted by a number of significant recent developments in competition law regulation across the continent. Countries and regions with recent

By Modupe Gbadeyanka Global provider of managed Internet network solutions, Expereo, has announced a major infrastructure expansion into the growing African market. To make this a reality, the firm plans to launch several strategically located Cloud Acceleration Hubs in pivotal pan-African locations this year. Recently, the company opened a hub in Johannesburg, South Africa, and more expected in East, West and North Africa throughout 2018. The new Africa Cloud Acceleration Hubs will enable Expereo to connect more customers across the Internet on an enhanced global scale, with improved infrastructure and optimised Internet connectivity for the highest availability and performance of

By Modupe Gbadeyanka The Chairman of Stanbic IBTC Plc, Mr Basil Omiyi, has urged organisations to migrate to cleaner energy sources for their operations because of the capacity to reduce the impact of emissions on the environment. According to him, the adoption of clean energy will help keep the environment stable to support economic and social activities, noting that for development in Nigeria to be sustainable, there must be a balance that guarantees that the environment and society are not negatively affected by economic activities now and in the future. “Green energy is devoid of carbon emissions (unlike fossil fuel

**Decry tussle between Sirika, Dikwah **700 ex-workers dead By Daily Times Worried by alleged face-off between the Minister of State for Aviation, Hadi Sirika and Chairman, Presidential Initiative on Continuous Audit (PICA), Dikwa, over the disbursement of N78 billion severance benefits, former workers of Nigeria Airways based in Accra, Ghana, Lome, Togo, Yaounde, Cameroon, Benin and Gabon, have petitioned President Muhammadu Buhari over their plight. The workers, Emetule Fina (Gabon); Eno Mao (Gabon); Ndoke Hannah (Cameroon); Bareng John (Cameroon); Afandomi Raymond (Benin); and Mensah Teteh (Togo) in a petition to President Buhari, commended him (President) for approving the payment of

By Modupe Gbadeyanka The sum of $200 million has been approved by the World Bank to support Nigeria in the area of agriculture through credit facility. Word Bank Country Director, Mr Rachid Benmessaoud, disclosed in a statement last Friday that the credit was being financed from the International Development Association (IDA), the World Bank Group’s grant and low-interest arm The money, according to him, would be used to enhance agricultural productivity of small and medium scale farmers. About 60,000 individuals are expected to directly benefit from the programme, while the priority value chains under the project will include products with

By Adedapo Adesanya Mobile phone maker, Blackberry, which once dominated the global phone market, may soon cease to exist as its Chinese manufacturing partner-company, TCL, has confirmed that it will no longer produce smartphones for the company. The company started making phones for Blackberry in 2016, and this year may mark the end of production as it would no longer retains the rights to sell, design, or manufacture BlackBerry phones as of August 31, 2020, this was according to a statement that BlackBerry Mobile posted on Twitter on Monday. “TCL Communication has no further rights to design, manufacture or sell

By Dipo Olowookere World-class Inspection, Training and Rope Access services company, JC International, has joined others across the world to celebrate the Customer Service Week. The firm, in a statement signed by its Service Delivery Manager of the company, Engr Charles Onyuku, restated its commitment towards ensuring delivery of consistent quality services to all its various customers across the Oil and Gas, Marine and Construction industries. According to Mr Onyuku, Customer Service Week is an opportunity for a service-driven organisation like JC International to reflect deeply on the quality of services rendered to customers. He emphasised that every service-oriented company